Australian oncology-focused biotechnology company Novogen (ASX:NRT) has announced changes to the company’s senior management it says are designed to support the its transformation from a discovery research organisation to one focused on clinical development.
The company's GDC-0084 is preparing for phase 2 and Cantrixil is now in phase I trials.
The company said in a statement it has recruited additional expertise to the team, with the appointments of Dr Gordon Hirsch as Chief Medical Officer, Dr Peng Leong as Chief Business Officer, and David Cain as Director of Chemistry, Manufacturing, and Controls (CMC).
"Meanwhile, the Company retains a team of highly-experienced scientists who have worked with the Company’s key technologies for some time, and who are well-positioned to continue pursuit of the ongoing early-stage discovery research programs.
"Collectively, these changes leave the company well-placed to move forward its portfolio, and especially to progress the clinical-stage programs GDC-0084 and Cantrixil.
"In this context, three senior executives will be leaving the Company in March 2017 to pursue new opportunities. Dr David Brown and Dr Andrew Heaton will be leaving to explore a planned new venture in early-stage drug discovery. In an unrelated move, Ms Cristyn Humphreys has resigned in order to take a new role outside of the industry."
According to CEO Dr James Garner, “David and Andrew were effectively among the founders of Novogen in its current form, and their contribution to the company over time has been substantial. They have been instrumental in moving us forward and transforming Novogen to a point where Cantrixil is now in a phase I clinical trial. They have now resolved to explore new challenges in early-stage drug discovery and all of us in the Novogen team wish them well in this new chapter of their respective careers.”
The company said CFO Cristyn Humphreys will leave Novogen later this month to assume a new role outside the industry. The Company will initiate a search for a replacement senior financial leader.
The transition will be overseen by Kate Hill, formerly a Partner at Deloitte, who currently serves as Company Secretary.
Dr Garner added, “Cristyn Humphreys has made a vital contribution in helping to navigate Novogen through an eventful few years. Her advice and support has been invaluable, and we all wish her every success in her new role.”